Banking History

Money saving is human,So now many banks we used for money savings,transactions,loans..etc.We know now many banks in our area because of that we discussing first bank and history.We walk to past banks are in BC also,when mankind formed Banking always there.

The Romans, great builders and administrators in their own right, took banking out of the temples and formalized it within distinct buildings. During this time, moneylenders still profited, as loan sharks do today, but most legitimate commerce and almost all governmental spending involved the use of an institutional bank.

Julius Caesar, in one of the edicts changing Roman law after his takeover, gives the first example of allowing bankers to confiscate land in lieu of loan payments. This was a monumental shift of power in the relationship of creditor and debtor, as landed noblemen were untouchable through most of history, passing debts off to descendants until either the creditor’s or debtor’s lineage died out.

The Roman Empire eventually crumbled, but some of its banking institutions lived on in the form of the papal bankers that emerged in the Holy Roman Empire, and with the Knights Templar during the Crusades. Small-time moneylenders that competed with the church were often denounced for usury.

Many histories position the crucial historical development of a banking system to medieval and renaissanc Italy and particularly the affluent cities of Florence, Venice and Genoa. The Bardi and Peruzzi Families dominated banking in 14th century Florence, establishing branches in many other parts of Europe.The most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397. The oldest bank still in existence is Banca Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.

Medici Bank

The Medici Bank was a financial institution created by the Medici family in Italy during the 15th century (1397–1494). It was the largest and most respected bank in Europe during its prime.There are some estimates that the Medici family was, for a period of time, the wealthiest family in Europe. Estimating their wealth in today’s money is difficult and imprecise, considering that they owned art, land, and gold. With this monetary wealth, the family acquired political power initially in Florence, and later in the wider spheres of Italy and Europe.

Oldest Banks in The World

7. Coutts

Year Established: 1692 Location: London, England Still in Operation: Yes Number of Locations: 28 total domestic

Coutts is another English bank that dates back to the 17th century. The bank, which was originally a goldsmith-banker’s shop, was formed in 1692 by John Campbell, a young Scottish goldsmith-banker. After Campbell died in 1712, he left the business to his family and in 1755, his granddaughter, Polly, married a merchant and banker named James Coutts.

6. Barclays

Year Established: November 17, 1690 Location: London, England Still in Operation: Yes Number of Locations: 4,750 total domestic and international

Barclays is one of the largest multinational banks in the world and sixth oldest bank still in existence. The bank started out as a goldsmith banking business established by John Freame and Thomas Gould in 1690. In 1736, James Barclay, Freame’s son-in-law, became a partner in the business, which spurred people to refer to it as “Barclays”.

5. Bankhaus Metzler (Metzler Bank)

Year Established: 1674 Location: Frankfurt, Germany Still in Operation: Yes Number of Locations: 10

Bankhaus Metzler began as a cloth trading business founded by Benjamin Metzler in 1674. Metzler, who was from Saxony, moved to Frankfurt in 1671 and worked for a few years as a bookkeeper in a well known firm of drapers, before establishing his own business. Around 1760, the company transitioned into a bank and Friedrich Metzler was the first official banker of the family. During the end of the 19th century, the bank focused on providing individual financial services instead of stockbroking. Today, Metzler provides financial services as a merchant bank, in securities transactions, as an asset manager, and a corporate finance consultant.

4. C. Hoare & Co

Year Established: 1672 Location: London, England Still in Operation: Yes Number of Locations: 2

C. Hoare & Co is a small private bank and the oldest located in the United Kingdom. It was founded in 1672 by Sir Richard Hoare and is still owned by his family, with his 10th and 11th generation descendants managing the bank’s operations. The bank services high-net-worth clients and provides them with loans, mortgages, savings accounts, and tax and estate planning services. During the 18th century, the bank introduced many aspects of modern banking, specifically, printed checks.

3. Sveriges Riksbank

Year Established: 1668 Location: Stockholm, Sweden Still in Operation: Yes Number of Locations: N/A

Sveriges Riksbank, commonly called Riksbanken, is the central bank of Sweden and the third oldest bank in continuous operation – it is also the world’s oldest central bank. The bank was established in 1668 under the direct control of the Riksdag of Estates (Sweden’s highest authority after the king at the time) to prevent the king from interfering with the bank’s affairs.

2. Berenberg Bank (Joh. Berenberg, Gossler & Co. KG)

Year Established: 1590 Location: Hamburg, Germany Still in Operation: Yes Number of Locations: 13 total domestic and international

Berenberg Bank, which is legally known as Joh. Berenberg, Gossler & Co. KG, is the world’s oldest merchant and private bank and has operated continuously since it was founded in 1590 by the Berenberg/Gossler family. The bank has never changed its legal identity or name and is still owned by a descendant of the original founders.

1. Banca Monte dei Paschi di Siena

Banca Monte dei Paschi di Siena also known as BMPS, is the oldest surviving bank in the world. It was founded in 1472 by order of the Magistrature of the Republic of Siena as the Monte di Pietà and has been in continuous operation since then. During the 17th and 18th century, after Italy was unified, BMPS expanded its operations throughout the entire country and offered the very first mortgage loans to Italian citizens.

Tech News

Jurassic World Evolution is a video game developed and published by Frontier Developments.The game was created by a development team of approximately 100 people with a budget of around £8 million. Its development began ...

BJP or Bharatiya Janata party (Indian peoples Party).it is the country’s largest political party in terms of representation in the national parliament and state assemblies, and it is the world’s largest party in ...

Lawrence Joseph or “Larry” Ellison (born August 17, 1944) is an American businessman, entrepreneur, and philanthropist who is a co-founder and the executive chairman and chief technology officer (CTO) of Oracle Corporation.As of March 2019, he ...

Chaninese Smartphone maker Huawei get ban on yesterday because of Donald Trump trade ban.Because of the ban the Huawei ban the users can’t access Google play store updation.According to Reuters reports that ...